OctaFX | OctaFX Forex Broker
Open trading account

AUD/USD falls below 0.8750

FXStreet (Mumbai) - The Australian dollar declined from a near two-week high hit earlier today as the markets price-in a weak Australian vehicle sales data along with a slight recovery in the US Treasury yields.

The AUD/USD traded 0.17% lower at 0.8744 levels, after having declined from a high of 0.8796 hit during the Asian session. The Aussie had inched higher even though the bureau of statistics said that the new vehicle sales dropped 1.6% in October.

Moreover, the greenback had declined across the board during the Asian session as the official data in the US showed consumers expect annual inflation of 2.6% this year, down from expectations for inflation of 2.9% in October. However, the ten-year yields in the US seem to have stabilized round 2.29%-2.3%.

The Aussie may extend losses during the US session, if the industrial production data manages to surpass the market expectation.

AUD/USD Technical Level

The pair has an immediate resistance at 0.8776 and 0.8796. Meanwhile, support is seen at 0.8715 and 0.8652.

Markets divided between Japan data and the opening of Shanghai-Hong Kong Connect – DB

Research analysts at Deutsche Bank feel the markets are generally mixed with bourses reacting to the Japan data and the opening day of the Shanghai-Hong Kong Connect.
Read more Previous

EUR/USD dips below 1.2500

The shared currency has accelerated its drop vs. the greenback on Monday, now pushing EUR/USD back below the 1.2500 key support...
Read more Next
Start livechat